Policy Points: Real Estate Excise Tax

In 2023, NAIOP Washington State successfully defeated a bill during the legislative session that would have increased the real estate excise tax (REET). We anticipate similar legislation during the 2024 Washington State Legislative Session. During this session, REET may be rebranded as a “transfer tax.”  While we were previously successful in our efforts to stop a REET increase from moving forward, NAIOPWA’s Government Affairs team is actively engaged to defeat its passage once again.